Key Points
- Major shareholder Guaranty Life Insurance Fidelity sold 126,436 CCAP shares for approximately $1.31 million at an average price of $10.33, reducing its ownership by 3.2% to 3.82 million shares. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
- CCAP shares opened at $10.23, near their 52-week low of $10.16, after declining 0.6%. The company recently reported quarterly EPS of $0.36, slightly below expectations, and revenue of $5.12 million versus analyst estimates of $37.12 million.
- Crescent Capital BDC declared a quarterly dividend of $0.34 per share, equivalent to an annualized $1.36 payout and a 13.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $13.10.
Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) major shareholder & Guaranty Life Insur Fidelity sold 126,436 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $10.33, for a total value of $1,306,083.88. Following the sale, the insider directly owned 3,819,361 shares in the company, valued at approximately $39,453,999.13. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
& Guaranty Life Insur Fidelity also recently made the following trade(s):
- On Wednesday, September 9th, & Guaranty Life Insur Fidelity sold 139,054 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.23, for a total value of $1,422,522.42.
- On Friday, September 4th, & Guaranty Life Insur Fidelity sold 10,471 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.39, for a total value of $108,793.69.
- On Thursday, September 3rd, & Guaranty Life Insur Fidelity sold 5,011 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.34, for a total transaction of $51,813.74.
- On Wednesday, September 2nd, & Guaranty Life Insur Fidelity sold 45,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.44, for a total transaction of $469,800.00.
- On Tuesday, September 1st, & Guaranty Life Insur Fidelity sold 11,285 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.50, for a total transaction of $118,492.50.
- On Monday, August 31st, & Guaranty Life Insur Fidelity sold 40,000 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.62, for a total transaction of $424,800.00.
- On Friday, August 28th, & Guaranty Life Insur Fidelity sold 15,000 shares of Crescent Capital BDC stock. The stock was sold at an average price of $10.60, for a total transaction of $159,000.00.
- On Thursday, August 27th, & Guaranty Life Insur Fidelity sold 27,195 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.60, for a total transaction of $288,267.00.
- On Wednesday, August 26th, & Guaranty Life Insur Fidelity sold 32,091 shares of Crescent Capital BDC stock. The shares were sold at an average price of $10.60, for a total transaction of $340,164.60.
Crescent Capital BDC Stock Down 0.6%
CCAP opened at $10.23 on Thursday. The company has a fifty day moving average of $10.94 and a two-hundred day moving average of $11.86. The stock has a market capitalization of $376.98 million, a price-to-earnings ratio of -113.67 and a beta of 0.52. Crescent Capital BDC, Inc. has a fifty-two week low of $10.16 and a fifty-two week high of $15.86. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.30 and a current ratio of 1.30.
Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%.The firm had revenue of $5.12 million for the quarter, compared to analysts' expectations of $37.12 million. On average, research analysts expect that Crescent Capital BDC, Inc. will post 1.51 earnings per share for the current year.
Crescent Capital BDC Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 13.3%. Crescent Capital BDC's dividend payout ratio is presently -1,511.11%.
Institutional Investors Weigh In On Crescent Capital BDC
Several institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Crescent Capital BDC during the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. purchased a new position in shares of Crescent Capital BDC in the fourth quarter valued at approximately $35,000. VPR Management LLC boosted its stake in shares of Crescent Capital BDC by 150.0% in the third quarter. VPR Management LLC now owns 5,000 shares of the company's stock worth $71,000 after acquiring an additional 3,000 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Crescent Capital BDC during the second quarter worth approximately $60,000. Finally, Permanens Capital L.P. purchased a new stake in shares of Crescent Capital BDC during the third quarter worth approximately $147,000. 49.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
CCAP has been the topic of several research analyst reports. Oppenheimer lowered Crescent Capital BDC from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $19.00 to $16.00 in a report on Friday, May 15th. B. Riley Financial reduced their target price on Crescent Capital BDC from $13.50 to $12.50 and set a "neutral" rating for the company in a research note on Wednesday, August 12th. LADENBURG THALM/SH SH decreased their target price on Crescent Capital BDC from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. Wells Fargo & Company cut their price target on shares of Crescent Capital BDC from $12.00 to $11.00 and set an "equal weight" rating for the company in a report on Wednesday, August 12th. Finally, Zacks Research upgraded shares of Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $13.10.
View Our Latest Stock Report on Crescent Capital BDC
Crescent Capital BDC Company Profile
(
Get Free Report)
Crescent Capital BDC, Inc is a closed-end, externally managed business development company that provides flexible financing solutions to middle market companies in the United States. Trading on the Nasdaq under the ticker CCAP, the firm offers investors exposure to a diversified portfolio of debt and equity instruments, targeting businesses with attractive risk-adjusted return profiles. Its primary objective is to generate current income through interest payments and potential capital appreciation via selective equity co-investments.
The company’s investment strategy emphasizes senior secured loans, unsecured second-lien loans, mezzanine debt, as well as preferred and common equity co-investments.
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